The economy of the future in the workshop «The outcome economy»

On Wednesday 11 May, classroom B 502 of the Barcelona Campus was the venue for the workshop "The Outcome Economy: the new wave of disruption" organised by Professors Carlos Cosials and Jasmina Berbegal.

The workshop was aimed at the faculty's Master's students. The event began with a session led by Carlos Cosials on the concept of "outcome economy".

Cosials explained that companies are being subjected to major changes through being obliged to adopt digital technologies. This situation is even more prevalent in the manufacturing sector where dependence on machines and automation is greater and their effect presents more challenges. This concept is what is referred to as Industry 4.0. As a result of this effect, most industrial and/or service companies are introducing digital transformation processes that imply, in most cases, adopting a new service or business model.

Using practical examples, the professor illustrated this new method of operating and providing service which is governed by new economic parameters. This is what is being referred to as "the outcome economy". He explained that "there will be a shift from commercial transactions and asset swaps to generating revenue through a contributive or results-sharing model, according to which payments will switch to being effected through services rendered."

This new reality presents a challenge for companies. This is the reason why, in the second part of the workshop, Fernando Rodríguez, representing the Hospital Clínico; Daniel Cardelús of Suez Water (Aguas de Barcelona); Benet Boix and Jaime Coll of Logismarket (Mecalux) all shared their concerns with Business Administration and Management students, who were then given time to present proposals based on Industry 4.0 technologies.

In the words of the organisers, the workshop was "a really fantastic opportunity to put students in touch with the real world of business. On the one hand, the companies were able to appreciate that the minds of students, uncontaminated with the real world, are quicker and more open-minded in coming up with proposals and, on the other hand, students were able to appreciate that business reality is full of restrictions that can hamper most innovations".